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| | London Market Report |  | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | London open: Stocks little changed as investors eye jobs data Stocks in London were muted in early trade as investors awaited the release of UK jobs data.
At 0830 GMT, the FTSE 100 was down 0.1% to 6,786.17. Meanwhile, oil prices retreated. West Texas Intermediate was down 0.4% to $45.61 a barrel and Brent crude was 0.4% weaker at $46.77.
Spreadex's Connor Campbell said: "It was a quiet start to trading this Wednesday, with the FTSE and pound awaiting the results of the latest UK jobs report.
"Not that analysts are expecting much drama from the day's data. Both the unemployment rate and wage growth readings are forecast to remain unchanged at 2.3% (though it could creep a bit higher to 2.4%) and 4.9% respectively; the jobless claims figure, on the other hand, is set to see a bit more movement, rising to 1.9k from the 0.7k seen the month previous."
The UK claimant count, unemployment rate and average weekly earnings are at 0930 GMT. In the US, the producer price index is at 1330 GMT and industrial output is at 1415 GMT.
In corporate news, housebuilder Barratt Developments ticked lower after saying in a trading update that sales in July had risen by 4.3% but cautioning that the housing market was becoming more challenging.
Peer British Land also nudged lower as it posted higher profits for the first half of the year but said it expects to proceed more cautiously in property development as it noted a change in the behaviour of property markets since the Brexit vote.
ICAP edged down after it reported a drop in first-half trading profit.
On the upside, insurer Prudential ticked higher after reporting a 19% jump in new business profit in the first nine months of the year and saying it plans to boost its dividend by 5% a year.
Rolls-Royce gained ground after saying its outlook for 2016 remained unchanged for revenue, profit and cash. The aerospace and defence company said it would benefit from weaker sterling and life cycle cost reductions which would more than offset higher engineering and programme costs in its civil aerospace unit.
Temporary power provider Aggreko advanced as it said it expects full-year 2016 results to be broadly in line with current market expectations, with pre-exceptional profit before tax of around £225m.
Severn Trent ticked up after it agreed to buy water service provider Dee Valley Group for about £78.5m.
Shares in Morrisons were a little firmer after the supermarket said it was launching a store pick service with Amazon for its online customers.
Cranswick was in the black as the FTSE 250 food producer announced the acquisition of Northern Irish pork processing business Dunbia Ballymena for an undisclosed sum.
Great Portland Estates was also on the front foot after completing the sale of 73/89 Oxford Street and 1 Dean Street in London to Norwegian sovereign wealth fund Norges Bank Real Estate Management for £276.5m.
Anglo American was stronger after Goldman Sachs upped to the stock to 'buy' from 'sell', while Electrocomponents surged after HSBC raised its rating on the stock to 'buy'. |
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| Market Movers
FTSE 100 (UKX) 6,802.05 0.14%
FTSE 250 (MCX) 17,624.92 0.29%
techMARK (TASX) 3,313.99 0.13%
FTSE 100 - Risers
Anglo American (AAL) 1,118.50p 2.01%
Rolls-Royce Holdings (RR.) 767.00p 1.66%
easyJet (EZJ) 1,103.00p 1.47%
Prudential (PRU) 1,542.50p 1.28%
Glencore (GLEN) 270.75p 1.25%
3i Group (III) 628.50p 1.13%
BHP Billiton (BLT) 1,285.00p 1.06%
Worldpay Group (WPG) 267.30p 1.06%
Micro Focus International (MCRO) 2,013.00p 1.05%
Relx plc (REL) 1,307.00p 1.00%
FTSE 100 - Fallers
Royal Bank of Scotland Group (RBS) 210.10p -1.13%
Barratt Developments (BDEV) 477.90p -1.04%
Marks & Spencer Group (MKS) 336.80p -1.00%
Centrica (CNA) 202.20p -0.88%
Associated British Foods (ABF) 2,523.00p -0.86%
Unilever (ULVR) 3,149.50p -0.79%
Tesco (TSCO) 215.40p -0.74%
Taylor Wimpey (TW.) 148.40p -0.67%
HSBC Holdings (HSBA) 634.30p -0.63%
Smiths Group (SMIN) 1,402.00p -0.57%
FTSE 250 - Risers
Electrocomponents (ECM) 385.60p 5.64%
Vedanta Resources (VED) 801.00p 5.39%
B&M European Value Retail S.A. (DI) (BME) 255.10p 4.12%
Zoopla Property Group (ZPLA) 306.50p 2.58%
Centamin (DI) (CEY) 139.80p 2.57%
Acacia Mining (ACA) 455.40p 2.36%
SIG (SHI) 91.20p 2.30%
Essentra (ESNT) 512.00p 2.20%
Pennon Group (PNN) 793.00p 2.19%
Hunting (HTG) 503.00p 2.09%
FTSE 250 - Fallers
Mitie Group (MTO) 206.70p -5.31%
Ocado Group (OCDO) 268.60p -4.82%
Euromoney Institutional Investor (ERM) 1,045.00p -4.74%
ICAP (IAP) 513.50p -3.57%
BTG (BTG) 599.00p -2.04%
Berkeley Group Holdings (The) (BKG) 2,446.00p -1.45%
CYBG (CYBG) 293.20p -1.45%
Halfords Group (HFD) 319.00p -1.27%
TalkTalk Telecom Group (TALK) 188.00p -1.05% |
| | UK Event Calendar | | Wednesday 16 November
INTERIMS
British Land Company, HICL Infrastructure Company Ltd, Schroder Real Estate Investment Trust Ltd, Speedy Hire
INTERIM DIVIDEND PAYMENT DATE
InterQuest Group
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Capacity Utilisation (US) (14:15)
Crude Oil Inventories (US) (15:30)
MBA Mortgage Applications (US) (12:00)
Producer Price Index (US) (13:30)
Q3
MHP SA GDR (Reg S), New World Resources A Shares
FINALS
AB Dynamics, Avon Rubber, Fenner
IMSS
Barratt Developments
AGMS
Barratt Developments, Celtic, Henderson EuroTrust, JPMorgan Emerging Markets Inv Trust, Vast Resources
TRADING ANNOUNCEMENTS
Barratt Developments
UK ECONOMIC ANNOUNCEMENTS
Claimant Count Rate (09:30)
Industrial Production (US) (14:15)
FINAL DIVIDEND PAYMENT DATE
Strategic Equity Capital
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| | US Market Report | | US close: Markets finish green as oil prices surge US equities finished in the green on Tuesday as oil prices surged over 5%, while data pointed to firmer household spending, which could increase the likelihood of a rate hike from the Federal Reserve.
The Dow Jones Industrial Average finished up 0.29% at 18,923.06 points, having started the day in the red, the S&P 500 increased 0.75% to 2,180.39 points and the Nasdaq 100 was 1.33% firmer at 4,764.47 points.
Spreadex's Connor Campbell earlier said the Dow fell as markets opened due to a combination of rate hike-fears, questions over whether the economy really needs president-elect Donald Trump's suggested fiscal stimulus and general exhaustion, as it had risen by between 900 to 1,000 points in around 11 days.
Oil prices advanced amid expectations that OPEC members will agree to a cut in production when they meet in late November.
Brent crude was last up 5.39% to $46.91 per barrel and West Texas Intermediate jumped 5.33% to $45.76.
On the macroeconomic front, the Empire State manufacturing index rose to 1.5 in November from -6.8 in the previous month, and above the -2.5 consensus forecast.
According to the Department of Commerce, retail sales volumes grew by 0.8% month-on-month in October to $465.9bn, 4.3% higher than last year, and above the 0.6% forecast.
Naeem Aslam, chief market analyst at ThinkMarkets, said: "The US economic data released today has painted a better picture for the economy.
"Most of the strength was in the retail sales data which came on the heels of higher wage growth.
"The dollar has ticked higher and further away from its lows."
In corporate news, Home Depot shares fell 2.52% despite the DIY store posting higher than expected third quarter sales and earnings.
Sales rose 6.3% to $23.2bn, compared to last year, and earned $1.60 a diluted share, up from $1.36.
Analysts had expected earnings of $1.58 a share on $23.05bn in revenue.
Shares in Dicks Sporting Goods plunged 6.86% as the Fortune 500 company reported better than expected results and boosted its forecast for the year.
Third quarter revenue rose 10% to $1.81bn, above expectations of $1.77bn.
Dow Jones - Risers
Verizon Communications Inc. (VZ) $47.37 2.58%
Chevron Corp. (CVX) $108.96 2.22%
Exxon Mobil Corp. (XOM) $86.82 1.81%
Apple Inc. (AAPL) $107.11 1.32%
Wal-Mart Stores Inc. (WMT) $71.42 1.32%
Microsoft Corp. (MSFT) $58.87 1.29%
Intel Corp. (INTC) $34.91 1.25%
Cisco Systems Inc. (CSCO) $31.70 1.05%
Goldman Sachs Group Inc. (GS) $211.19 0.96%
General Electric Co. (GE) $30.75 0.79%
Dow Jones - Fallers
Home Depot Inc. (HD) $124.40 -2.56%
Boeing Co. (BA) $148.11 -1.25%
E.I. du Pont de Nemours and Co. (DD) $68.63 -0.62%
Pfizer Inc. (PFE) $32.23 -0.46%
Travelers Company Inc. (TRV) $111.83 -0.29%
Johnson & Johnson (JNJ) $116.32 -0.24%
Walt Disney Co. (DIS) $97.70 -0.22%
JP Morgan Chase & Co. (JPM) $79.36 -0.19%
United Technologies Corp. (UTX) $107.68 -0.17%
Nike Inc. (NKE) $50.13 -0.16%
S&P 500 - Risers
Advance Auto Parts (AAP) $164.33 15.00%
Chesapeake Energy Corp. (CHK) $6.05 10.60%
Murphy Oil Corp. (MUR) $30.92 9.11%
Apache Corp. (APA) $63.40 7.57%
Centene Corp. (CNC) $54.75 6.17%
Hess Corp. (HES) $50.62 5.24%
Marathon Oil Corp. (MRO) $15.70 5.16%
Devon Energy Corp. (DVN) $45.00 5.12%
United Continental Holdings Inc. (UAL) $66.06 4.96%
Newfield Exploration Co (NFX) $40.40 4.77%
S&P 500 - Fallers
Apartment Investment & Management Co. (AIV) $41.03 -4.14%
Regeneron Pharmaceuticals Inc. (REGN) $428.65 -3.57%
AvalonBay Communities Inc. (AVB) $165.13 -3.55%
Chipotle Mexican Grill Inc. (CMG) $399.96 -3.42%
Signet Jewelers Ltd (SIG) $89.65 -3.07%
Allergan plc (AGN) $196.37 -2.80%
Equity Residential (EQR) $59.30 -2.79%
Tiffany & Co. (TIF) $75.96 -2.74%
Perrigo Company plc (PRGO) $89.10 -2.68%
Home Depot Inc. (HD) $124.40 -2.56%
Nasdaq 100 - Risers
JD.com, Inc. (JD) $26.41 11.39%
NetEase Inc. Ads (NTES) $228.10 4.68%
Expedia Inc. (EXPE) $123.54 3.68%
Ctrip.Com International Ltd. Ads (CTRP) $42.02 3.45%
Amazon.Com Inc. (AMZN) $743.24 3.36%
American Airlines Group (AAL) $44.76 3.13%
Nvidia Corp. (NVDA) $86.19 3.05%
Alphabet Inc. Class C (GOOG) $758.49 3.04%
Citrix Systems Inc. (CTXS) $86.05 3.00%
Alphabet Inc. Class A (GOOGL) $775.16 2.91%
Nasdaq 100 - Fallers
Regeneron Pharmaceuticals Inc. (REGN) $428.65 -3.57%
Norwegian Cruise Line Holdings Ltd. - Ordinary Shares (NCLH) $40.17 -2.83%
Discovery Communications Inc. Class C (DISCK) $26.71 -2.23%
Shire Plc Ads (SHPG) $181.04 -2.12%
Discovery Communications Inc. Class A (DISCA) $27.80 -1.94%
Bed Bath & Beyond Inc. (BBBY) $45.03 -1.77%
Symantec Corp. (SYMC) $24.22 -1.66%
Incyte Corp. (INCY) $103.16 -1.65%
Check Point Software Technologies Ltd. (CHKP) $82.70 -1.63% |
| | Q4 Top 10 Stock Picks | | Moving into the final quarter of the year, a packed events calendar is going to create opportunities aplenty for investors, and we've highlighted the top 10 stocks we believe could outperform the market in Q4. Download this report today Losses can exceed deposits |
| | Newspaper Round Up | | Wednesday newspaper round-up: Autumn Statement, Rio Tinto, US dollar Theresa May and Philip Hammond have ended weeks of fraught Autumn Statement negotiations by agreeing measures to help key voters known in Whitehall as "Jams" - people who are "just about managing". Downing Street and Treasury officials have spent weeks in tough talks, with the prime minister demanding that her government's first big economic event next week should have more measures to help working class voters left behind by globalisation. - Financial Times
Rio Tinto's lawyers uncovered more than a year ago internal emails about a questionable $10.5m payment to a consultant, but the mining company did not alert law enforcement authorities and investors about the matter until last week. The Anglo-Australian group said on November 9 it had notified authorities after discovering emails from 2011 that referred to the payment to the consultant, who helped head off a threat to Rio's claim to the giant Simandou iron ore project in Guinea. - Financial Times
The soaring US dollar is causing mounting strains for the global financial system and ultimately threatens to set off a full-blown banking crisis in emerging markets, the world's top's economic watchdog has warned. "We have all the symptoms of a dollar shortage," said Hyun Song Shin, chief economist at the Bank for International Settlements. - Telegraph
Google has announced plans to hire more than 3,000 new staff in the UK in a major boost to Britain's technology sector after Britain's vote to leave the EU. Announcing plans to expand the internet giant's new London campus in King's Cross, its chief executive Sundar Pichai said the investment showed Google was "committed to the UK". - Telegraph
The outgoing US president, Barack Obama, has used his final trip to Europe to call for action to put Greece on a path to "durable" economic recovery, including the possibility of debt relief. Making his first stop in Athens in a farewell tour aimed at safeguarding his legacy, Obama made the strongest case yet for the debt-stricken country to be given some slack. He said: "To the rest of Europe I will continue to emphasise our view that austerity alone cannot deliver prosperity." - Guardian
The Pension Protection Fund was attacked by MPs last night afterThe Times revealed that it paid a public relations firm more than £600,000 over the past two years. Lansons Communications is paid a £194,400 annual retainer by the fund, the pensions lifeboat for failed companies. Since January 2015 it has received another £249,200 in "additional payments". The PPF is funded by a levy on final salary schemes. - The Times
The Serious Fraud Office has launched a legal action to prevent a former top Barclays banker from publicly discussing his role in the bank's contentious Qatari fundraising at the height of the financial crisis. The SFO will next week ask for a gagging order at an employment tribunal brought by Richard Boath, the bank's former head of financial institutions, over allegations of unpaid wages and unfair dismissal. - The Times |
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